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A lot of my listeners may well be surprised by today's action in the gold market.

Of course, I was surprised, and everybody really should be surprised by a 3.5% drop in

the price of gold in a single day, because price drops of that magnitude are rare.

I mean, they do happen once in a while, but they don't happen very often, especially on

a day like today where you get very weak economic data that would normally be seen as being

positive for gold.

But instead, gold dropped about $65 an ounce, closed below $18.50, about $18.48, silver

took an even bigger slacking, which is normally the case percentage wise.

It was down $1.76, $25.35 per ounce.

And again, this happened against the backdrop of weak economic data in the form of the non-farm

payroll report, which was supposed to be weak, but it ended up being even weaker than

expected.

And of course, this followed the weak ADP number, which I commented about on Wednesday's

podcast.

The consensus for the official number was for a gain of 50,000 jobs.

Now they ended up revising the November number up from $245,000 to $336.00.

But that's looking in the rear view mirror, although even December at this point is the

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